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Nickel supply uncertainty lifts austenitic Stainless Steel prices this year
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AddTime：2014-9-3 17:46:24 Hits：942
The development of world average stainless steel prices has been predominantly positive over the past twelve months. Since reaching the bottom of a typical, seasonal dip in August 2013, transaction values have followed a mostly upward curve, before softening in the last two months. The average price for grade 304 cold rolled coil, this month, is around 23 percent higher than the figure one year ago, said MEPS in a snippet.
Basis values, where applicable, have recorded relatively small fluctuations and remain only marginally above the producers’ breakeven figures. The EU cold rolled coil, type 316, basis price has risen by 7.4 percent, year-on-year. During the same period, with nickel and molybdenum values increasing substantially, alloy surcharges for grade 316 have climbed by more than 35 percent. Although raw material costs are not expected to grow greatly above current levels, in the coming year, the average over that period will be significantly higher than during the past twelve months. Transaction values in Asia are predicted to rise slowly, reflecting the cost of raw materials, reaching a peak level around May 2014. Following a seasonal pattern, prices are forecast to soften during the summer months. Effective selling figures in Europe are expected to continue on an upward curve until the second quarter of next year. This trend is likely to be interrupted by a small dip around year-end. Prices are likely to weaken as demand slows in advance of the traditional summer shutdown season. North American basis values are predicted to remain quite stable, after a proposed hike in October. Transaction figures will, therefore, track the changes in alloy surcharges. This is likely to result in seasonal peak prices being reached in October 2014 and May, next year. Global crude stainless steel production is forecast to achieve a new record annual total of more than 40 million tons, in 2014. |